Sunday, 04 May 2025 04:55

Rural poverty reaches 76% in Nigeria, World Bank reports

Rate this item
(1 Vote)

According to the World Bank's April 2025 Poverty and Equity Brief, poverty among Nigeria's rural population has reached a critical 75.5%, underscoring growing inequality across the country. This rate is nearly double the urban poverty rate of 41.3%.

The report reveals that overall poverty in Nigeria continues to display stark regional disparities. Northern geopolitical zones recorded a 46.5% poverty rate in 2018/19, compared to just 13.5% in southern regions. Before the COVID-19 pandemic, 30.9% of Nigerians lived below the international extreme poverty line of $2.15 per day.

Economic circumstances have deteriorated since then, with World Bank projections estimating that by 2024, over 54% of Nigerians would be living in poverty. The report attributes this to multiple factors including economic shocks, rising insecurity, and persistent inflation.

The crisis disproportionately affects certain demographic groups. Children aged 0-14 face a 72.5% poverty rate, while adults without formal education experience a 79.5% poverty rate. Even those with secondary education show a 50% poverty rate, compared to 25.4% for those with tertiary education.

Multidimensional poverty indicators further illustrate the challenges: 32.6% lack access to limited-standard drinking water, 45.1% don't have limited-standard sanitation, and 39.4% have no electricity access.

The World Bank notes that poverty reduction had nearly stagnated before the pandemic, declining by only half a percentage point annually since 2010. This slow progress is attributed to structural economic challenges, particularly Nigeria's continued dependence on oil and vulnerability to climate shocks affecting agriculture.

Since 2018/19, an estimated 42 million additional Nigerians have fallen into poverty. Recent macroeconomic reforms have begun stabilizing the economy, but high inflation continues to erode purchasing power, with labor incomes failing to keep pace with rising costs.

The World Bank recommends urgent reforms to protect the poorest from inflation and boost livelihoods through productive employment. While acknowledging government efforts like temporary cash transfers targeting 15 million households, the report emphasizes the need for stronger social protection systems, investments in education, health, and infrastructure, and economic diversification beyond the oil sector.​​​​​​​​​​​​​​​​

May 02, 2025

Dangote says he’s comfortable with Trump tariffs on urea exports

Nigerian billionaire Aliko Dangote said on Thursday he was "comfortable" with the impact President Donald…
May 01, 2025

Appeal Court upholds conviction of professor who rigged election for Akpabio amid public outrage

The Court of Appeal in Calabar has upheld the conviction and three-year prison sentence of…
May 04, 2025

Humility is a superpower. Here’s how to practice it daily - Majorie Radlo-Zandi

I was strolling up the hill in Greater Boston to a French cooking class. The…
May 03, 2025

Man accidentally buys his own car after it was stolen a few weeks earlier

An English man unknowingly bought back his own Honda Civic just weeks after it was…
April 29, 2025

At least 26 people killed as 2 vehicles run over bomb planted by Boko Haram…

At least 26 people were killed on Monday when two vehicles detonated an improvised explosive…
May 04, 2025

Here’s the latest as Israel-Hamas war enters Day 576

Israeli military issues thousands of call-up notices, local media report The Israeli military was issuing…
May 03, 2025

AI is running the classroom at this school, and students say 'it's awesome'

At a time when many American students are struggling to keep up, a private school…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2025 NewsScroll. All rights reserved.